Zendesk (ZEN) Price Target Increased to $102.00 by Analysts at KeyCorp

Zendesk (NYSE:ZEN) had its price target lifted by KeyCorp from $92.00 to $102.00 in a report published on Wednesday, May 1st, The Fly reports. KeyCorp currently has an overweight rating on the software maker’s stock.

Several other equities analysts also recently commented on ZEN. Zacks Investment Research upgraded Zendesk from a hold rating to a buy rating and set a $95.00 target price for the company in a research report on Thursday, April 4th. Wedbush restated an outperform rating and set a $93.00 price objective on shares of Zendesk in a research report on Monday, April 29th. Jefferies Financial Group raised their price objective on Zendesk from $90.00 to $102.00 and gave the stock a market perform rating in a research report on Wednesday, May 1st. JMP Securities raised their price objective on Zendesk from $82.00 to $100.00 and gave the stock a market outperform rating in a research report on Wednesday, May 1st. Finally, Canaccord Genuity raised their price objective on Zendesk from $65.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday, February 6th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $90.93.

Shares of ZEN stock opened at $87.96 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54. Zendesk has a 52 week low of $45.60 and a 52 week high of $90.00. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of -92.59 and a beta of 1.64.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported ($0.28) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.28). The company had revenue of $181.48 million during the quarter, compared to analysts’ expectations of $179.53 million. Zendesk had a negative net margin of 22.52% and a negative return on equity of 25.37%. The firm’s revenue was up 39.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. As a group, equities analysts forecast that Zendesk will post -1.07 EPS for the current fiscal year.

In related news, CFO Elena Gomez sold 6,000 shares of Zendesk stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $76.70, for a total transaction of $460,200.00. Following the transaction, the chief financial officer now owns 26,577 shares of the company’s stock, valued at $2,038,455.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adrian Mcdermott sold 2,304 shares of Zendesk stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $78.06, for a total value of $179,850.24. Following the transaction, the insider now directly owns 80,596 shares in the company, valued at approximately $6,291,323.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,688 shares of company stock worth $11,698,604. 4.60% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. Prudential Financial Inc. lifted its holdings in shares of Zendesk by 2.8% during the fourth quarter. Prudential Financial Inc. now owns 5,450 shares of the software maker’s stock valued at $318,000 after acquiring an additional 150 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Zendesk by 3.9% in the 4th quarter. WINTON GROUP Ltd now owns 4,504 shares of the software maker’s stock valued at $263,000 after acquiring an additional 168 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Zendesk by 66.6% in the 1st quarter. Fifth Third Bancorp now owns 513 shares of the software maker’s stock valued at $44,000 after acquiring an additional 205 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Zendesk by 2.0% in the 4th quarter. State of Alaska Department of Revenue now owns 13,003 shares of the software maker’s stock valued at $758,000 after acquiring an additional 252 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Zendesk by 90.0% in the 1st quarter. CWM LLC now owns 532 shares of the software maker’s stock valued at $45,000 after acquiring an additional 252 shares during the last quarter. 94.16% of the stock is currently owned by institutional investors.

About Zendesk

Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.

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